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CSCP (Supply Chain Management) Chapter 4 Question and Answers Latest Updated A+ Graded.
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CSCP (Supply Chain Management) Chapter 4 Question and Answers Latest Updated A+ Graded.
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CSCP (Supply Chain Management)Chapter 4 Question and Answers Latest
Updated A+ Graded.
The primary purpose of the mean absolute deviation (MAD) in
forecasting is to:
A) estimate the trend line.
B) eliminate forecast errors.
C) measure forecast accuracy.
D) seasonally adjust the forecast.
E) remove random variations.
Correct Answer -C. measure forecast accuracy
Given forecast errors of -1, 4, 8, and -3, what is the mean absolute
deviation?
A) 2
B) 3
C) 4
D) 8
E) 16
Correct Answer -C. 4
Suppose that the last four months of sales were 8, 10, 15, and 9 units,
respectively. Suppose further that the last four forecasts were 5, 6, 11, and
12 units, respectively. What is the Mean Absolute Deviation (MAD) of
these forecasts?
A) 2
,B) -10
C) 3.5
D) 9
E) 10.5
Correct Answer -C. 3.5
A time-series trend equation is 25.3 + 2.1x. What is your forecast for
period 7?
A) 23.2
B) 25.3
C) 27.4
D) 40.0
E) 179.2
Correct Answer -D. 40.0
For a given product demand, the time-series trend equation is 53 - 4x.
The negative sign on the slope of the equation:
A) is a mathematical impossibility.
B) is an indication that the forecast is biased, with forecast values lower
than actual values.
C) is an indication that product demand is declining.
D) implies that the coefficient of determination will also be negative.
E) implies that the cumulative error will be negative.
Correct Answer -C. is an indication that product demand is declining
Yamaha manufactures which set of products with complementary
demands to address seasonal variations?
, A) golf clubs and skis
B) swimming suits and winter jackets
C) jet skis and snowmobiles
D) pianos and guitars
E) ice skates and water skis
Correct Answer -C. jet skis and snowmobiles
Which of the following is TRUE regarding the two smoothing constants
of the Forecast Including Trend (FIT) model?
A) One constant is positive, while the other is negative.
B) They are called MAD and cumulative error.
C) Alpha is always smaller than beta.
D) One constant smoothes the regression intercept, whereas the other
smoothes the regression slope.
E) Their values are determined independently.
Correct Answer -E. their values are determined independently
Demand for a certain product is forecast to be 800 units per month,
averaged over all 12 months of the year. The product follows a seasonal
pattern, for which the January monthly index is 1.25. What is the
seasonally-adjusted sales forecast for January?
A) 640 units
B) 798.75 units
C) 801.25 units
D) 1000 units
E) 83.33 units
Correct Answer -D. 1000 units
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